The tourism minister said taxpayers' money would be saved
An Isle of Man government decision to stage its own green TT event in 2010 could save the taxpayer up to £95,000, the House of Keys has been told.
Tourism Minister Martyn Quayle outlined the costs as he defended the decision to sever ties with 2009's organiser TTXGP to create TT Zero.
He said the TT Zero budget was expected to be between £100,000 and £150,000 for the Department of Tourism.
A TTXGP race would have cost the department up to £195,000, he added.
Mr Quayle was responding to a question from Peel MHK Tim Crookall.
"My department is currently in the process of finalising the budget for this year's clean emissions race, TT Zero and I am, therefore, unable to provide an exact figure at this stage," he said.
"However, in order to properly promote and run the event, I expect there to be a need for a budget of between £100,000 and a £150,000.
"Bearing in mind last year's event generated hundreds of thousands of pounds worth of equivalent advertising value, I believe that if we attract similar publicity this year, the event will represent good value for money."
Mr Quayle said a report suggested the 2009 green race had generated advertising worth £350,000 for the island.
The island's first zero emissions race, run by private company TTXGP, was held during the 2009 TT.
However, the government severed ties with the firm last year and is running the 2010 event itself.
Both sides have blamed each other for the breakdown.